More than 350 Arab insurers, experts and stakeholders are set to converge on Bahrain for the Middle East and North Africa region's first 'Professional Occupational Insurance Forum' in October.

The event is being organised by the General Arab Insurance Federation (Gaif), in co-operation with the Bahrain Insurance Association (BIA), and under the patronage of the Central Bank of Bahrain (CBB),  reported the Gulf Daily News, our sister publication.

Announcing the event, Gaif general secretary Abdul Khaliq Rouf said, "Occupational insurance - a method of protection against legal expenses and other costs associated with medical malpractice and general corporate malfeasance - is becoming increasingly important, with more and more organisations across the Mena markets seeking to offset the potential liabilities resulting from the negligent activities of employees, directors and officers."

"As such, the forum will focus on building awareness of the value of occupational insurance. Furthermore, it will also examine similar protection for losses resulting from political violence, an issue that has becoming increasingly relevant for companies operating in a number of Arab countries in transition," he stated.

On the choice of Bahrain as the venue, Rouf said the kingdom was the "ideal location and longstanding centre for business and finance as well as a strategic gateway to the broader GCC and Mena markets, where the insurance sector continues to grow."

Calling the forum a "groundbreaking event", BIA chairman Younis Jamal said the forum would look to highlight and explore a number of key issues and trends impacting both insurers offering occupational insurance and clients requiring such protection.

"We are currently in the process of fully developing the programme for the forum and engaging with leading experts and high-level industry," he remarked.

"The idea is to develop it as a highly strategic platform for exchange and dialogue and for the advancement of this important and growing segment within the insurance industry," he said.-TradeArabia News Service